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VOL. 130 | NO. 44 | Thursday, March 5, 2015

Financial Debate Looms at City Hall

With Memphis Mayor A C Wharton Jr. to present his budget proposal to the City Council in May, some on the council started to set the table this week for an election year challenge of Wharton’s methods for righting the city’s financial condition.

Standing Tall

Shaq’s mom, yes, but Lucille O’Neal has her own story to tell

Lucille O’Neal is 6-foot-2 and the mother of former NBA All-Star Shaquille O’Neal. But that’s not why she stands tall.

GTx Reports Full-Year, Fourth-Quarter Loss

Memphis-based biopharmaceutical company GTx Inc. has reported a net loss of $14.5 million for the quarter ended Dec. 31 and an annual net loss of $39.4 million for 2014.

Scripps Newspaper Revenue Continues Decline

The newspaper unit of The E.W. Scripps Co., parent company of The Commercial Appeal, saw its profit tumble in the fourth quarter to almost half of what it was a year earlier.

Wharton Still Mum on Extent of Shake-Up

The move of Memphis-Shelby County Airport Authority Board chairman and former Memphis City Council member Jack Sammons back to City Hall is not a done deal just yet.

Local Weather
Today
Memphis, TN
21°F
Light Snow
Wind: 17 mph
Humidity: 77%

EVENTS

Rhodes College will host physicist and author Brian Greene as part of its Communities in Conversation series Thursday, March 5, at 6 p.m. in the McCallum Ballroom, Bryan Campus Life Center at Rhodes, 2000 North Parkway. Greene will present “The Cosmos: From the Big Bang to the End of Time.” Cost is free. Visit rhodes.edu.

more events »

LOCAL COLUMNISTS

Eliminating Hall Income Tax Raises New Problems

Republican lawmakers are lining up legislation to reduce or phase out Tennessee’s Hall income tax on investments, even though Gov. Bill Haslam is concerned about losing revenue amid the state’s economic ups and downs.

Good Health, Wealth Go Hand in Hand

Ray’s Take: One of the biggest and most challenging issues in retirement is how to plan and pay for health care expenses. Medical bills can mushroom in later life and empty nest eggs. Reimbursements are being reduced regularly. The healthier we are, and remain, the lower our health costs will be. Especially in a world where health costs are rising more each year.

Lone Reader Heard From

I am blessed to have as a regular reader one Kathy Young. Kathy keeps the books at Palmer Brothers, a commercial real estate firm in Memphis that turns 103 years old this year. Evidently, she gets a break for a few minutes each week, picks up The Memphis News, and finds herself reading “I Swear.” And it seems that a recent bit of my prose struck a chord with her:

STATE GOVERNMENT

Haslam: Ways to Discuss Race Other Than Facebook

NASHVILLE, Tenn. (AP) – Gov. Bill Haslam says there should be more open conversations about race and that there are means of discussion other than Facebook.

Group Holds Closed-Door Security Briefing at Tennessee Capitol

NASHVILLE, Tenn. (AP) – A private group called the Tennessee Task Force on National and Homeland Security was scheduled to hold a closed-door briefing for lawmakers at the Capitol on Wednesday.

Tennessee School Voucher Bill Advancing in House

NASHVILLE, Tenn. (AP) – A proposal to create a school voucher program in Tennessee is advancing in the House.

NATIONAL BUSINESS

AP Survey: Why the Outlook for Global Economy Has Brightened

WASHINGTON (AP) – From the United States to Asia to Europe, a global economy that many had feared was faltering appears poised for a resurgence on the strength of cheap oil and falling interest rates.

Uber Heads in New Mapping Direction With Decarta Acquisition

SAN FRANCISCO (AP) – Uber Technologies is buying digital mapping specialist deCarta in a deal that may help the rapidly growing ride-hailing service lessen its dependence on navigation services from Google and Apple, an imposing pair of potential rivals.

Exxon CEO: Get Used to Lower Oil Prices

NEW YORK (AP) – Exxon Mobil CEO Rex Tillerson expects the price of oil to remain low over the next two years because of ample global supplies and relatively weak economic growth.

NATIONAL GOVERNMENT

Transcripts Reveal Fed Confronting Chaotic Banking System

WASHINGTON (AP) – Transcripts of Federal Reserve meetings in 2009 showed central bank officials struggling to contain the worst financial crisis in seven decades and searching for the right policies to halt a deepening economic downturn.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 81 218 2,605
MORTGAGES 88 310 3,629
FORECLOSURE NOTICES 33 62 844
BUILDING PERMITS 160 530 6,865
BANKRUPTCIES 73 234 2,641
BUSINESS LICENSES 34 83 1,147
UTILITY CONNECTIONS 105 389 3,831
MARRIAGE LICENSES 0 46 669

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